News Corp., other media stocks close higher

SAN FRANCISCO (MarketWatch) - Shares of media and entertainment companies closed higher for a second straight session on Thursday in step with the broader market, with News Corp. among the gainers following its release of quarterly earnings results.

After the market closed Wednesday, it said fiscal fourth-quarter net income was $717 million, or 22 cents a share, compared with a profit of $429 million or 15 cents a share in fourth quarter of the 2004 fiscal year. Revenue rose 12% to $6.1 billion.

Analysts polled by Thomson First Call were expecting a profit of 17 cents a share on revenue of $5.86 billion. See full story.

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